Latest News | 23 February 2022

Tenant secured for revamped Cathedral Quarter retail space

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A tenant has been secured for a newly revamped retail unit in the Cathedral Quarter following a deal completed by BB&J Commercial.

The property, in Sadler Gate, was acquired by Sadler Gate Ltd, which converted the upper floors of the property into flats, while retaining the commercial space on the ground floor.

1NE, a designer clothing outlet, which specialises in reselling clothing and encouraging sustainable fashion, has now signed a lease on the commercial space.

Oscar Heap, agency surveyor at BB&J Commercial, who advised on the deal said: “Sadler Gate is proving as popular as ever, and we are seeing a real resurgence and increase in consumer confidence.

“The purchasers did a great job with the conversion of the upper floor, creating a fresh-looking space for students or young professionals.

“As a local developer their approach was refreshing, showing their strong desire to create space for local businesses to trade from on the ground floor, while utilising the upper floors for residential properties in a bid to help bring people back to the city centre.

“Anchored by the Becketwell regeneration scheme, commercial to residential projects like this all help bring people back to the heart of the city.

“This was the sixth transaction we have dealt with on Sadler Gate in the last 12 months, with a sole unit remaining at 37 Sadler Gate.”

In a statement, 1NE said: “Having the opportunity to occupy a unit on Sadler Gate, which is still the place to be in the city, has presented 1NE with the opportunity to bring a new retail experience to the city, creating a home for rare sought-after items and a home for all creatives.

“Hopefully, we’re in the process of building a new story for Sadler Gate linking with other independent businesses and bringing something exciting to Derby.”

Carl Tranter, landlord of the Sadler Gate property, said: “We believe Derby represents great value compared to its East Midlands counterparts and assets such as the ones on Sadler Gate can be restored and created from vacant and redundant space across the city.

“The future is bright for boutique retail/service businesses with a point of difference, and this will breed success Sadler Gate and other areas of Derby.”

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